Tag Archives: Estate Sale

Importance Of Liability Insurance For Estate Sales
The importance of liability insurance for estate sales has become a necessary cost for estate sale companies.
With thousands of estate sales, thousands of estate sale companies and baby boomers moving or downsizing at an increased pace, estate sale companies need to protect their businesses.
The world has become a litigious place. Estate sale companies take care when staging an estate sale, but with hundreds of people moving through the occasional incident can happen. The estate liquidator works diligently to keep the estate sale a safe environment.
One company that works with a large majority of estate sale companies providing estate sales insurance is the ACNA (Antiques and Collectibles National Association),

Storage Unit Filled Estate Sale Or Auction
Storage unit filled, estate sale or auction. Questions to be answered.
EstateSalesNews.com has received many calls and emails from prospective sellers concerning the liquidation of personal property they have stored in storage units.
Sellers want to know what venue to use.
First question is how much is stored? What is stored? Have they asked the storage unit company if they could sell from the unit?
Many estate sale companies will not sell from a storage unit. The estate sale company has to look at what is going to be for sale, how can they display, will the storage company allow it and is it financially equitable for them?
Simply unpacking boxes to examine what is in the storage unit(s) can present a challenge.
Many estate sale companies are not set up to remove property from a storage facility to another location. On site estate sales are easier to look at and stage. They usually provide space for parking and traffic.
There are some estate sale companies that will provide the service, but usually at a much higher commission because of the work and restrictions involved. Some liquidators may offer to sell via online auction. Other estate sale companies offer both on site estate sales and auctions.
Auction companies may choose to pick up the contents of a storage unit and move it to a facility to be included with other partial contents in an auction.
If you are moving, downsizing or liquidating a loved one’s stored belongings, all of the above needs to be considered and investigated to determine what liquidation process will work best for you and if anyone in your area can assist.
Do not hesitate to consult with your local estate sale companies. If they cannot assist you, they may provide leads as to who can.
Knowing your local estate sale companies can provide you with knowledge to make wise, informed decisions.

Updated Checklist For Estate Sale Contracts
Here is an updated checklist for estate sale contracts for estate sale companies and sellers.
We are not an attorney, but these items should be included and understood in the estate sale contract.
The estate sale contract should lay out in clear language.
- Name of the estate sales company
- Name of owner/s, heirs, or attorney
- Date of estate sale contract
- Address where the sale is to take place
- Dates the sale is to be held and time
- Dates the estate sale company will be given access to setup and price
- Any items excluded from sale on addendum when contract is signed
- Utilities – electric, plumbing, heating and air conditioning should be working
- Liability insurance for estate sale company
- Homeowner must have active homeowner insurance policy
- Ramifications of removal of items by sellers after contract is signed
- Fee or commission that will be charged if items removed or sold ahead by seller
- Cancellation clause of contract
- Party responsible for advertising and costs
- Who is responsible for obtaining and paying for any permits required
- Cost of sale, commission, fee, any additional sale related costs
- When seller will receive net proceeds and form of payment to be made
- Will seller receive written account of sold items and what it will or won’t include
- Who is responsible for the clean out when the estate sale is concluded
- If estate sale company cleans out any costs associated with clean out
- Any additional costs for appraisals or specific appraisals
- **If needed winter expenses and responsibility, i.e. plowing, shoveling, sand etc.
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